Scattered throughout the apartment were packages containing more than 24 pounds of cocaine, and behind the drywall were six safes containing a total of $3 million in $50 and $100 bills, officials said.

As a result, Bonilla, 34, of Huntington Station, was charged Tuesday in U.S. District Court in Central Islip with possession of cocaine with intent to distribute.

"It's a significant amount of money and drugs," said Robert Nardoza, a spokesman for Eastern District federal prosecutor Loretta Lynch.

The wholesale value of the cocaine was $300,000, but it would be worth many times that amount if it were distributed on Long Island, officials said.

Sources said the arrest and the seizure of the drugs and money were part of an ongoing investigation into a large-scale Long Island cocaine ring that led to Bonilla's apartment.

DEA agents initially searched a black trash bag outside the building and found a number of clear plastic bags and paper towels containing a white residue, which tested positive for cocaine, according to court papers filed by Assistant U.S. Attorneys Allen Bode and Margaret Lee.